GLOBL BLOCKCHAIN TECHNOLOGY MARKET ANALYSIS – CURRENT SITUATIONS AND FORECAST

Blockchain is a cryptographic technology designed for managing distributed ledger systems, which, as a rule, is used to manage online transactions. The the distributed ledger technology has been boosted by the development of various crypto-currencies, such as bitcoin. Initially, blockchain technology was used, mainly in the financial market but today there is an active introduction of technology in such verticals as healthcare, energy sector, insurance, state and municipal management. The major driving factors for the blockchain technology are transaction speed, transparency and low usage cost. This study includes the global market analysis for the use of blockchain technology in different economy sectors, its regional structure, business application and the forecast of its development until 2024. This study also identifies the main market drivers, affecting its growth and the problems faced by suppliers and the market as a whole. It also examines key market trends and their impact on the current state of the market and its development scenarios.